Political Risk or Poor Fundamentals?
Some numbers behind Kiwibank's recent equity cancellation
On December 19 last year, Kiwibank announced it would not proceed with a previously signalled $500 million equity capital raise. The bank cited changes to the Reserve Bank of New Zealand’s capital requirements and highlighted a recent highly successful $400 million Tier 2 capital raise at an attractive price. According to the bank, this means it can con…
